Adams Street is excited to announce our follow-on investment in Arctic Wolf, a SaaS-based security operations platform that allows businesses of all sizes to dramatically improve their security posture without adding costly cybersecurity professionals.
Massive Market Need
Ending cyber risk is an audacious goal. The velocity at which large-scale cybersecurity breaches garner news headlines is accelerating. Especially in recent months, cybercrime has been up as businesses are increasingly vulnerable with employees working remotely. The common solution has been to deploy new cybersecurity tools and see what sticks. After all, there is no shortage of products in the market. This strategy, however, typically creates new challenges for security teams: excessive alerting, complexity of managing myriad products, and difficulty in hiring security professionals to actually run the show. As Arctic Wolf CEO, Brian NeSmith, observes, “organizations are realizing that they don’t have a tools problem, but an operational one”.
Organizations are realizing that they don’t have a tools problem, but an operational one.
— Brian NeSmith, CEO of Arctic Wolf
The major challenge of implementing a comprehensive security program is operationalizing disparate sources of information and responding appropriately to security threats. At the center of this challenge is an organization’s security operations center (SOC), which refers to the people, processes, and technologies that a company puts in place to detect and respond to cybersecurity threats. SOCs are critical to modern security architectures yet are expensive to configure, complicated to operate, and require a significant human capital investment. This challenge has given rise to a category of businesses offering Managed Detection and Response (MDR) services or a “SOC-as-a-Service”, which allow organizations to add 24/7 threat monitoring, detection, and response via a turnkey solution. According to Gartner, 25% of organizations will be using MDR services by 2025.
Superior AI-Based Solution
Arctic Wolf’s cloud-native security operations solution is leading the pack within the MDR space. The platform integrates with a customer’s existing tech stack to collect over 65 billion events daily across cloud, network, and endpoint. Using advanced AI, Arctic Wolf correlates all of these captured events with industry-leading threat intelligence to identify possible behavioral patterns of a cyberattack. From there, it’s time to act. Arctic Wolf has a dedicated “Concierge Team” of security operations specialists that work 24/7 to triage alerts, manage threats, and offer guidance on how a customer can mitigate issues in the future. The product is easy to implement, effective, and can be the difference in preventing a cyber breach. Arctic Wolf continues to innovate and broaden their product offering to include capabilities like risk management and cloud monitoring. The effectiveness of the platform has underpinned tremendous growth for the Company, which saw 106% YoY growth in subscription revenue and 301% YoY growth in the number of customers using multiple solutions.
The effectiveness of the platform has underpinned tremendous growth for the Company, which saw 106% YoY growth in subscription revenue and 301% YoY growth in the number of customers using multiple solutions
Deeply Experienced Management Team
It is rare to meet a cybersecurity executive that brings as much experience and industry vision as NeSmith, CEO and co-founder of Arctic Wolf. Scaling cybersecurity companies is not new to him. Previously, he served as CEO of Blue Coat Systems, a leading provider of content and web security. As CEO, he oversaw Blue Coat’s IPO, acquired 8 companies, and grew the business from $5mm annual revenue to $500mm revenue and 1,300+ employees. Brian has surrounded himself with a team of experienced executives with deep security expertise. The management team brings a wealth of experience from other leading companies such as Cylance, CrowdStrike, Code42, and FireEye. When Adams Street originally invested in Arctic Wolf in 2018, we knew that they were up to something special. NeSmith and team continue to impress with their product vision and execution. If there is any company that can end cyber risk, Adams Street believes that Arctic Wolf stands the best chance.
Important Considerations: This information (the “Paper”) is provided for educational purposes only and is not investment advice or an offer or sale of any security or investment product or investment advice. Offerings are made only pursuant to a private offering memorandum containing important information. Statements in this Paper are made as of the date of this Paper unless stated otherwise, and there is no implication that the information contained herein is correct as of any time subsequent to such date. All information has been obtained from sources believed to be reliable and current, but accuracy cannot be guaranteed. References herein to Adams Street Partners’ portfolio companies are not to be considered a recommendation or solicitation for any such company. Projections or forward-looking statements contained in the Paper are only estimates of future results or events that are based upon assumptions made at the time such projections or statements were developed or made; actual results may be significantly different from the projections. Also, general economic factors, which are not predictable, can have a material impact on the reliability of projections or forward-looking statements.
Acquisition Adds EMEA Footprint and 11,000 Global Customers, Deepens PDF Editing and Translation Product Offering
Market-leading provider of document technology solutions for software developers, PDFTron Systems Inc., today announces the acquisition of Norwich, UK-based Iceni Technology Ltd., specialists in PDF editing and translation software and producers of a series of firsts in the field of PDF manipulation.
PDFTron Founder and CTO Ivan Nincic stated, “At PDFTron, we partner with innovative companies that are leaders in their fields and offer superior value propositions to their customers. With Iceni, we’re excited to bring on an incredible team with over 15 years of developer experience innovating PDF editing and automated PDF translation. Both companies stand to benefit from each other’s strengths as we combine our offerings to power the next generation of document processing applications.”
“With PDFTron’s scale and broad platform, we can now provide our 11,000 customers worldwide greater value in terms of access to hundreds of unique PDFTron SDK features, top-quality rendering performance, and market-leading support service and responsiveness,” stated Iceni Co-Founder and Director Simon Crowfoot. “We also see synergies in the document understanding field, where our advanced PDF editing and translation features naturally augment PDFTron’s content extraction, document reflow, form and invoice recognition, and next-gen search capabilities using Deep Learning and AI.”
The Iceni acquisition marks PDFTron’s entry into the European market and builds on recent acquisitions of North American enterprise document software providers ActivePDF and BCL Technologies earlier this year. PDFTron continues to be engaged in a global search for best-in-class technology to add to its growing, end-to-end document SDK platform, including the #1-ranked commercial PDF SDK.
With PDFTron’s planned integration of the trailblazing Iceni Infix PDF Editor and its Infix TransPDF functionality, PDFTron customers can now look forward to giving their users a deep Word processor-style editing experience on PDFs and accurate, push-button translations of PDFs in 60+ languages across all platforms.
About Iceni Technology Ltd.
Formed in 1996 with a background in pre-press, newspapers and PostScript, today, Iceni Technology is an established software development company based in the city of Norwich in the UK. Iceni continues to innovate in translation and web-based PDF interaction, having previously produced a series of firsts in the field of PDF manipulation. Its products on desktop, server and web hosts, including the Infix PDF editor, are translated into most European languages for its over 11,000 professional, corporate, educator, and estate agent customers in 39 different countries. For more information, visit www.iceni.com.
About PDFTron Systems Inc.
Headquartered in Vancouver, BC, PDFTron is a premier global provider of high-performance document processing technology serving customers across a broad spectrum of industries. PDFTron’s market-leading SDK drives digital transformation and powers next generation software applications with dynamic document viewing, annotation, processing, and conversion capabilities, as well as advanced features such as document understanding, data extraction, and redaction. PDFTron technology supports all major platforms and dozens of unique file types, including support for PDF, MS Office, and CAD formats. For more information, visit www.pdftron.com.
Montreal, December 2, 2020 – Novacap, one of Canada’s leading private equity firms, in partnership with Investissement Québec, today announced that it has acquired Logibec, a Montreal-based healthcare software company. The transaction brings back Logibec to Canadian ownership.
« We are grateful for the enthusiastic support of Novacap and its partners in this transaction, which not only brings our company back to Canadian ownership, but also positions us for expansion outside of North America. Our most recent breakthrough in foreign markets confirms that Logibec has invested in the right growth areas such as data management solutions. The Novacap team understands our Canadian heritage and is well positioned to support us in the next phase of our development. »
Marc BrunetCEO, Logibec
« Novacap has always been committed to fostering entrepreneurship and innovation right here in Quebec, and Logibec has epitomized that since inception. Novacap has a long history of successfully partnering with Canadian companies and helping them grow significantly. We are very excited to lead this investment alongside Investissement Québec and management in Logibec, a flagship provider of IT and software solutions to the Canadian healthcare ecosystem and support the company in its international expansion »
Pascal TremblayPresident, CEO and Managing Partner, Novacap
Founded in 1982, Logibec is one of Canada’s largest healthcare technology companies and is entirely dedicated to contributing to the better delivery of patient care and to assisting healthcare managers in their day to day operations through technology.
“We are grateful for the enthusiastic support of Novacap and its partners in this transaction, which not only brings our company back to Canadian ownership, but also positions us for expansion outside of North America,” said Marc Brunet, CEO, Logibec.
“Our most recent breakthrough in foreign markets confirms that Logibec has invested in the right growth areas such as data management solutions. The Novacap team understands our Canadian heritage and is well positioned to support us in the next phase of our development.”
“Novacap has always been committed to fostering entrepreneurship and innovation right here in Quebec, and Logibec has epitomized that since inception,” said Pascal Tremblay, President, CEO and Managing Partner, Novacap. “Novacap has a long history of successfully partnering with Canadian companies and helping them grow significantly. We are very excited to lead this investment alongside Investissement Québec and management in Logibec, a flagship provider of IT and software solutions to the Canadian healthcare ecosystem and support the company in its international expansion.”
“Logibec has a long history of working in collaboration with private equity sponsors, and as their new partners, we are thrilled to support management’s growth initiatives and to contribute improving healthcare by bringing innovative solutions to the market,” said Eric Desrosiers, Senior Partner, Novacap. “Our investor group is committed to providing Logibec all the resources it needs to develop new solutions and expand its footprint in new geographies.”
“The investment that our government is making in Logibec is strategic for Québec’s position in this highly competitive sector. It will enable the company to remain among the leaders in information systems for the health and social services sector. The company will thus be able to focus on developing solutions essential to the quality of care offered to patients, particularly in hospitals,” said Pierre Fitzgibbon, Minister of the Economy and Innovation.
“We’re proud to be involved in this major investment, which is helping to bring Logibec’s ownership back to Québec and consolidate the vitality of our healthcare IT ecosystem. For more than four decades, the company has applied its expertise in our healthcare institutions, standing out because of its leading-edge technologies. Alongside solid financial partners like Novacap, Investissement Québec plans to continue supporting the players and key sectors of our economy in order to spotlight our know-how and grow our investments and exports,” said Guy LeBlanc, President and CEO of Investissement Québec.
Fasken Martineau Dumoulin LLP, Ernst Young LLP, Tectonic Advisory Services Inc., Crosslake Technologies, LLC and National Bank Financial Inc. acted as advisors to Novacap.
Logibec was formerly a portfolio company of GI Partners.
About Novacap
Founded in 1981, Novacap is a leading Canadian private equity firm with CA$3.6 billion of assets under management. Its distinct investment approach, based on deep operational expertise and an active partnership with entrepreneurs, has helped accelerate growth and create long-term value for its numerous portfolio companies. With an experienced management team and substantial financial resources, Novacap is well positioned to continue building world-class businesses. Backed by leading global institutional investors, Novacap’s deals typically include leveraged buyouts, management buyouts, add-on acquisitions, IPOs, and privatizations. Over the last 39 years, Novacap has invested in more than 90 companies and completed more than 140 add-on acquisitions. Novacap has offices in Brossard, Quebec and Toronto, Ontario. For more information, please visit www.novacap.ca.
About Logibec
Headquartered in Montreal, Canada for nearly 40 years, Logibec deploys information systems that span the clinical, operational, and business needs of complex healthcare organizations. Logibec’s clients are also empowered to improve and innovate by utilizing our industry-leading suite of actionable analytics solutions and advisory services.
Investissement Québec’s mission is to play an active role in Québec’s economic development by spurring business innovation, entrepreneurship and business acquisitions, as well as growth in investment and exports. Operating in all the province’s administrative regions, the Corporation supports the creation and growth of businesses of all sizes with investments and customized financial solutions. It also assists businesses by providing consulting services and other support measures, including technological assistance available from Investissement Québec – CRIQ. In addition, through Investissement Québec International, the Corporation also prospects for talent and foreign investment and assists businesses with export activities.
For further information: Novacap: Alexandra Troubetzkoy, NOVACAP, +1 450-651-5000 ext.291, atroubetzkoy@novacap.ca
Speecmatics, based at Cambridge Science Park, has won the Scale-up Award at the Barclays’ annual High Growth and Entrepreneur National Awards ceremony.
The awards were announced by actor, television presenter and radio DJ, Reggie Yates, during a live stream virtual event last week.
A key note speech was given by businesswoman, entrepreneur and TV Dragon, Deborah Meaden.
Speechmatics powers applications that require mission-critical, accurate speech recognition through its any-context speech recognition engine. Speechmatics’ speech recognition technology is used by enterprises in scenarios such as contact centers, legal, compliance, eDiscovery, security, media & entertainment and software. Speechmatics processes millions of hours of transcription worldwide every month in 30+ languages.
Having pioneered machine learning voice engineering, Speechmatics is enabling companies to build applications that detect and transcribe voice in any context and in real-time. Its neural networks consider acoustics, languages, dialects, multiple speakers, punctuation, capitalization, context and implicit meanings.
Katy Wigdahl, CEO, Speechmatics (pictured) said: “It has been a phenomenally challenging year for businesses across the world. Winning the scale-up of the year award for consistent and rapid growth means even more to our business in testing times. We have focused on building an innovative, automated technology that is vital to the growth and scale of many use cases and markets which has become even more critical during the pandemic.”
Juliet Rogan, National Head of High Growth at Barclays, said: “The awards are a celebration of the exceptional innovation and leadership entrepreneurs show, disproportionately driving job growth, attracting investment, and creating innovative products and services. In what has been a difficult time for businesses due to the coronavirus outbreak it is even more important than ever we celebrate and recognise their achievements. Entrepreneurs are fundamental to the UK’s economic competitive advantage, that shape our todays as well as tomorrows.”
A national judging panel made up of key industry leaders and influencers selected the overall national winners.
The awards bring the full entrepreneurial community together. This year, for the first time, Barclaycard joined the event alongside Barclays Rise and Eagle Labs as partners of the Awards. This group wide initiative started five years ago and forms an integral part of its support for entrepreneurship across the bank.
Investment led by Insight Partners will help the company meet global demand amid COVID-19 & beyond
NEW YORK, Dec. 02, 2020 (GLOBE NEWSWIRE) — Bizzabo, the world’s leading Event Success Platform, today announced it has raised $138 million in Series E funding. The investment is led by Insight Partners, with participation from previous investors, Viola Growth, Next47, and OurCrowd. Bizzabo will use the investment to meet surging demand for its platform globally and expand its category-leading capabilities as COVID-19 reshapes the future of the professional events industry. With the round, Bizzabo sets a new precedent for the largest private investment in an event technology platform.Without in-person events, organizations have turned to virtual conferences and trade shows to connect with customers and grow their business. With that, virtual events have enabled organizers to safely reach a wide audience, ensure event ROI, and deliver valuable data points to shape future strategies. Given the benefits, even with a COVID-19 vaccine imminent, virtual events aren’t going away anytime soon. Looking forward, events that combine in-person experiences with digital components will become the new normal.“The future of professional events isn’t virtual-only,” said Eran Ben-Shushan, CEO & Co-Founder of Bizzabo. “Our data shows very clearly that while virtual events have major benefits, attendees and businesses want to get back to live events. To stay relevant, marketers and event organizers will need to implement a hybrid strategy that blends together the best parts of virtual and in-person experiences.”Bizzabo’s event success platform empowers organizations to manage, measure, and grow professional events across the globe and in any format — virtual, in-person, or hybrid.“COVID-19 has permanently transformed the professional events category,” said Matt Gatto, a Managing Director at Insight Partners, who will join the Bizzabo board of directors. “Bizzabo’s impressive growth and momentum began pre-pandemic and accelerated during it as they launched the industry’s first end-to-end event technology solution. Their pedigree in both in-person and virtual events and their impressive execution capabilities have them well-positioned to lead this rapidly evolving space. We are excited to partner with their leadership team and to support them in this new phase of growth.”
In the past year, Bizzabo has seen revenue explode over 100 percent. This is powered by a substantial shift upmarket in 2020, with a significant portion of its customer base coming from the enterprise segment. Bizzabo has powered events for the world’s leading Fortune 100 in eCommerce, technology, education and media. Bizzabo’s Event Success Platform is used to support hybrid, virtual, and in-person professional events for enterprise and mid-market organizations across industries and verticals.
“Our platform has seen unprecedented demand this year,” said Ben-Shushan. “Compared to the year prior, the number of events organized through us has grown 65 percent. Additionally, the number of attendees registering for events with Bizzabo has grown 500 percent, while overall usage is up 150x. With a vaccine likely and more hybrid events in the future, we anticipate even greater growth. Bizzabo has been the category leader, experiencing hyper-growth both pre-pandemic and during the virtual transition, we are excited to continue to lead the market forward by doubling down on product, technology, and user experience, to help organizations unlock the power of hybrid experiences.”
To meet global demand for its platform, Bizzabo will use its investment to build a comprehensive technology that successfully integrates the experiences of virtual and in-person — for both organizers and attendees. The company will also expand its go-to-market operations and triple its engineering, product, and experience teams with the opening of two new offices in Europe in the first half of 2021. In addition, Bizzabo is looking to hire over a hundred new employees, globally, in 2021.
“This investment, led by ScaleUp software investor Insight Partners, is a testament to how Bizzabo is leading the charge in the future of event technology,” added Ben-Shushan. “Events have changed overnight and event technology needs to move as quickly.”
About Bizzabo
Bizzabo is the only Event Success Platform. Bizzabo’s all-in-one event software enables in-person, virtual, and hybrid events to deliver unique attendee experiences through intelligent and intent-based personalized engagement. We help companies measure, manage and scale events towards key business outcomes, empowering every organizer, marketer, exhibitor, and attendee to unleash the power of professional events. The company was founded by Boaz Katz, Alon Alroy, and Eran Ben-Shushan, and has more than 175 employees in its New York, Tel-Aviv and Kyiv offices. For more information on Bizzabo, visit www.bizzabo.com or follow us on Twitter @bizzabo
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.
SAN FRANCISCO, Dec. 2, 2020 /PRNewswire/ — Shop-Ware, the automotive aftermarket’s premier cloud-based shop management software for independent repair shops, announced today that it has secured $15M in series A funding, led by Insight Partners, a leading global venture capital and private equity firm. The investment will support Shop-Ware’s continued growth, accelerate its innovation, and allow for a more aggressive go-to-market.
Carolyn Coquillette founded Shop-Ware out of her own repair shop in San Francisco to provide the transparency and sophistication that customers needed and that other systems lacked.
Shop-Ware handles everything for the next generation of auto repair, from digital customer communication to paperless shop operations, with an expansive product offering designed to reduce or remove the human effort needed to run the business. Repair shops experience 20% efficiency gains, higher gross profit, and a 12% increase in sales than over the phone. Their customers consistently boast increased satisfaction, mentioning the software in online reviews.
“Repair shops have to adapt quickly to the increased complexity of the cars they service. Shop-Ware brings automated, customized solutions to allow shops to thrive in business and inspire their customers,” said Shop-Ware founder and CEO Carolyn Coquillette. “Our team is proud to serve the community of hard-working, intelligent professionals that make auto repair possible, and Insight Partners shares our passion for delivering best-in-class products and services that this industry needs to transform.”
“With Shop-Ware, repair shop owners and technicians can maximize operational efficiencies and customer interaction using the company’s cloud-based management solution,” said Nikhil Sachdev, Managing Director at Insight Partners, who is joining Shop-Ware’s Board of Directors. “We are excited to partner with Shop-Ware to further scale their best-in-class product and capitalize on this growing market opportunity.”
The investment will be used to expand Shop-Ware’s engineering, support, and sales teams, to ramp the number of repair shops adopting the platform and speeding their onboarding period.
About Shop-Ware
Founded in 2013, Shop-Ware delivers professional-grade innovation to independent automotive service providers. As the industry’s premier enterprise-grade SaaS platform for shop management, Shop-Ware is committed to developing sophisticated tools to help the automotive aftermarket thrive and grow. Industry-first features include fully digital, cloud-based repair orders with native vehicle inspections, rich media, and customer live chat; real-time shop workflow and “expeditor” dispatch; native parts allocation and tracking for each job in progress; parts gross-profit “optimizer” that automatically seeks and attains a parts GP target; advanced analytics across unlimited repair facilities, and much more. For more information on Shop-Ware, visit www.shop-ware.com.
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit www.insightpartners.com or follow us on Twitter @insightpartners.
Market Access Transformation (MAT), a global healthcare company that uses cutting edge technology to automate and modernize how life sciences companies capture mission-critical insights that drive decision-making across the product lifecycle, today announced a $30 million minority investment from Silversmith Capital Partners, a Boston-based growth equity firm. The investment marks the first time MAT has raised outside capital and will be used to expand the company’s team and accelerate innovation of its product offerings.
Founded in 2016, MAT has revolutionized the way Global Payer Market Research is conducted by developing Rapid Payer Response (RPR), the industry’s only on-demand global platform for gathering critical payer insights. In five years, the company has built a client base of more than 45 biopharma and device manufacturers – including all of the Top 10 pharma companies. MAT’s partnership with Silversmith solidifies its market leadership position in providing technology-driven solutions to the healthcare community.
“Providing our clients with new and improved offerings that address unmet needs within healthcare research and analytics has been our primary focus since we started MAT,” said Baiju Aurora, MAT’s CEO and Co-Founder, who along with Co-Founder Paul Howard will continue to lead the company. “We are incredibly proud of what our team has achieved in such a short period of time and are excited to partner with Silversmith as we look to accelerate our product development initiatives.”
RPR is built on the company’s proprietary SaaS platform that enables manufacturers to obtain more robust insights, in 1/3 the time and 1/2 the cost of more traditional, manual-based approaches. RPR is powered by an expansive global payer network – which spans over 40 countries – and leverages a unique payer selection and vetting process. “While RPR has enabled us to deliver technology solutions to a wide variety of pharma companies across the globe, our expert team of pricing and market access specialists drive client engagement and satisfaction,” added Paul Howard.
“One of the biggest challenges life sciences organizations face is gathering payer insights in an agile manner to drive optimal clinical and commercial product strategies as regulatory and market dynamics evolve,” said Brian Peterson, Principal of Silversmith. “What impressed us most about MAT was their platform’s ability to deliver insights in days instead of months, while maintaining industry-leading quality on a global scale. We are thrilled to partner with Baiju, Paul and the entire MAT team, and look forward to working with them as they continue to bring innovative offerings to the market.”
As part of the investment, Brian Peterson and Jim Quagliaroli, Managing Partner of Silversmith, have joined MAT’s Board of Directors, along with Baiju Aurora and Paul Howard.
Choate, Hall & Stewart served as legal counsel to Silversmith Capital Partners and Day Pitney served as legal counsel to MAT.
About Market Access Transformation
With offices in the US, UK, and India, Market Access Transformation specializes in developing cutting edge technologies that enable the healthcare community to gather and exchange insights that assess the real-world potential of their products. MAT’s first product, Rapid Payer Response™ (RPR), is an online platform-based information exchange that allows healthcare manufacturers to secure On-Demand expert insight from the largest and most diverse global payer network in as little as 5 days. For more information about MAT, please visit www.marketaccesstransformation.com.
About Silversmith Capital Partners
Founded in 2015, Silversmith Capital Partners is a Boston-based growth equity firm with $2.0 billion of capital under management. Silversmith’s mission is to partner with and support the best entrepreneurs in growing, profitable technology and healthcare companies. Representative investments include ActiveCampaign, Appfire, Centauri Health Solutions, DistroKid, Impact, LifeStance Health, MediQuant, Panalgo, Unily, Validity, and Webflow. The partners have over 75 years of collective investing experience and have served on the boards of numerous successful growth companies including ABILITY Network, Archer Technologies, Dealer.com, Liazon, Liberty Dialysis, MedHOK, Net Health, Passport Health, SurveyMonkey, and Wrike. For more information about Silversmith, please visit www.silversmith.com.
Ivanti Acquires MobileIron and Pulse Secure to Deliver Intelligent and Secure Experiences Across All Devices in the Everywhere Enterprise
The combination cements Ivanti’s position as a global market leader in Unified Endpoint Management, Zero Trust Security, and IT Service Management
SALT LAKE CITY, UT — December 1, 2020 — Ivanti, Inc., which automates IT and security operations to discover, manage, secure and service from cloud to edge, announced it has closed the acquisitions of MobileIron, a leading provider of mobile-centric unified endpoint management solutions, and Pulse Secure LLC, a leading provider of secure access and mobile security solutions. This business combination further solidifies Ivanti, which is backed by Clearlake Capital Group, L.P. and TA Associates, as a global market leader in Unified Endpoint Management (UEM), Zero Trust Security, and IT Service Management (ITSM).
“We are excited to welcome the MobileIron and Pulse Secure teams into the Ivanti family,” said Jim Schaper, Ivanti Chairman and CEO. Our intelligent experience platform will power business through hyper-automation and secure connections on every device, for any user, wherever and however they work. This enables our customers to collaborate and innovate more freely, while reducing the risk of data breaches and enhancing employee experiences. We have a tremendous opportunity ahead of us, and I’m very excited for the future.”
By bringing MobileIron and Pulse Secure into the Ivanti portfolio, organizations will be able to proactively and autonomously self-heal, self-secure, and self-service devices in the everywhere enterprise – in which employees, IT infrastructures, and customers are everywhere – and deliver better user experiences and outcomes. Through zero trust security and contextual automation, Ivanti’s solutions will make IT connections smarter and more secure across remote infrastructure, devices, and people. Ivanti is uniquely positioned to provide a comprehensive level of end-to-end coverage on every device.
Customers will benefit from real-time intelligence into the health, security, and performance of all devices from cloud to edge, enabling them to proactively detect and remediate vulnerabilities before they impact the business. Customers will be able to discover and manage devices, implement secure zero trust access with contextual automation, and deliver personalized employee experiences – improving productivity with better operational speed, cost, and quality of service.
Transaction Highlights
Under the terms of the agreement with MobileIron, Ivanti acquired all outstanding shares of MobileIron common stock for a total value of approximately $872 million. MobileIron stockholders received $7.05 in cash per share, representing a 27% premium to the unaffected closing stock price as of September 24, 2020.
MobileIron shareholders approved the acquisition at a special stockholder meeting on November 24, 2020. Over 91% of the voted shares were in favor of the acquisition.
Pulse Secure was acquired from affiliates of Siris Capital Group, LLC. The terms of the Pulse Secure transaction were not disclosed.
About Ivanti
Ivanti is redefining enterprise security with the industry’s first intelligent experience platform that makes every IT connection smarter and more secure across remote infrastructure, devices, and people through automation. From PCs and mobile devices to virtual desktop infrastructure and the data center, Ivanti discovers, manages, secures and services IT assets from cloud to edge in the everywhere enterprise — while delivering personalized employee experiences. In the everywhere enterprise, corporate data flows freely across devices and servers, empowering workers to be productive wherever and however they work. Ivanti is headquartered in Salt Lake City, Utah and has offices all over the world. For more information, visit www.ivanti.com and follow @GoIvanti.
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Media contacts:
Erin Jones
Avista Public Relations
Representing Ivanti
+1 704-664-2170 ejones@avistapr.com
December 1st, 2020,09:00am CET – EclecticIQ, a global threat intelligence, hunting and response technology provider, has raised €20 million ($24 million) in Series C financing, led by Ace Management, Europe’s leading cyber growth investor.
Other contributors to the funding round include Capricorn Digital Growth Fund and Quest for Growth, Invest-NL, Arches Capital and existing investors INKEF Capital, KEEN Venture Partners and KPN ventures. This brings the company’s total funding raised to €47 million over a four-year period, making it among the best funded global cybersecurity scale-ups based in Europe.
Funding will go towards deepening the company’s commitment to government, large enterprises and service providers, expanding its portfolio and increasing the company’s global footprint. With this investment EclecticIQ will accelerate its strategy to transform from a leading threat intelligence platform vendor into an innovative cybersecurity leader across the globe.
As cyber threats continue to evolve rapidly, intelligence-led cybersecurity has become the norm. EclecticIQ’s growing customer base relies on its threat intelligence platform as the single source of truth for cyber threats and incidents. The financing will drive further innovation of the platform with new use cases, enabling governments, large enterprises and service providers to effectively manage threat intelligence, create situational awareness and adopt an intelligence-led cybersecurity approach.
Having mastered threat intelligence technology, the company sees adjacent opportunities in operationalizing threat intelligence, as this is a problem that has not been solved in the market yet. With the recent acquisition of PolyLogyx’s end-point technology, the company is well positioned to develop new solutions that re-imagine how organizations detect, hunt and respond to sophisticated threats.
To accelerate growth, EclecticIQ will use the funding to expand its commercial teams in Europe and the United States, and establish a presence in the Middle East, Africa and Asia Pacific. Leveraging its experience with governments, and some of the most targeted enterprises globally, the company will expand its focus to new segments and strengthen its global partner ecosystem.
François Lavaste, Partner at Ace Management who will join EclecticIQ’s board of directors, said: “We are convinced that Ace Management’s new investment will help the company to improve and accelerate its solutions that enable the world’s biggest governments and commercial enterprises to identify and protect against the most intense cyber threats.”
Joep Gommers, EclecticIQ’s co-founder and chief executive officer said, “It is exciting to bring in a high-caliber cyber investor like Ace Management, which shares our vision of threat intelligence at the core of cybersecurity, and sees the opportunity to transform the industry by solving massive challenges faced in threat detection, hunting and response. This financial investment will enable EclecticIQ to drive the industry forward and support our clients more effectively facing an ever-evolving threat landscape.”
EclecticIQ has seen impressive growth over the years:
Growth: In 2019, the company grew its revenue by 84 percent by successfully expanding the company’s market segments from government to larger financial organizations, telecoms and big tech companies.
Product: EclecticIQ is continuing to push the envelope, with a new intelligence ingestion engine introduced to the EclecticIQ Platform, improving robustness and scalability of the company’s core threat intelligence technology.
Industry alliances: The company is a sponsor member of OASIS, EclecticIQ joined the Open Cybersecurity Alliance (OCA), along with some of the biggest names in cybersecurity.
Leadership: The company further strengthened its leadership team, adding Wytse Bouma (ex Rockstart) as CFO, and Ciaran Bradley (ex Adaptive Mobile, Kemp) as CTO.
Board: Three new members have been appointed to its board: Ben Verwaayen (KEEN Venture Partners, previously CEO of BT Group PLC Alcatel-Lucent, President of KPN Telecom and Vice-Chairman of Lucent Technologies), François Lavaste (Partner, Ace Management) and Katrin Geyskens (Partner, Capricorn Partners). The Board is chaired by Sam van der Feltz (ex Unilever, TNS & EMI).
Bryan, Garnier & Co acted as sole financial advisor and sole placement agent for EclecticIQ.
EclecticIQ is a global threat intelligence, hunting and response technology provider. Its clients are some of the most targeted organizations, globally. To build tomorrow’s defenses today, these organizations have to understand the threats against them – and align their efforts and investments to mitigate their risks. EclecticIQ helps governments, large enterprises and service providers effectively manage threat intelligence, create situational awareness and adopt an intelligence-led cybersecurity approach. The company extended its focus towards hunting and response with the acquisition of Polylogyx’s end-point technology in 2020. Founded in 2014, EclecticIQ operates globally with offices across Europe, North America, and via certified value-add partners. More information.
About Ace Management
Ace Management, a subsidiary of Tikehau Capital, is a private equity firm specialised in strategic industries and technologies, with over €1Bn in assets under management.
Founded in 2000, Ace invests through sector-focused approaches (midmarket private equity in Aerospace & Defence and venture and growth capital investments in Cybersecurity / Digital Trust). Ace has built its model on strategic partnerships with large corporates (including Airbus, Safran, Dassault Aviation, Thales, EDF, Naval Group, Sopra Steria), which invest in its funds and maintain an ongoing dialogue with the firm, enabling Ace to take a differentiated approach to investing. Ace operates offices in Paris (HQ), Toulouse, Bordeaux and Montréal, and benefits from the worldwide presence of Tikehau Capital. More information.
About Capricorn Partners
Capricorn Partners is an independent European manager of venture capital and equity funds, investing in innovative European companies with technology as competitive advantage. The investment team of Capricorn is composed of experienced investment managers with deep technology expertise and a broad industrial experience. Capricorn Partners is managing the venture capital funds Capricorn Digital Growth Fund, Capricorn Sustainable Chemistry Fund, Capricorn ICT Arkiv, Capricorn Health‐tech Fund, Capricorn Cleantech Fund and Capricorn Fusion China Fund. In addition, it is the management company of Quest for Growth, quoted on NYSE Euronext Brussels, and the investment manager of Quest Cleantech Fund and Quest+, sub‐funds of Quest Management SICAV, registered in Luxembourg. More information.
AboutInvest–NL
Invest-NL is an impact investor committed to businesses and projects that will make the Netherlands more sustainable and innovative. Its focus lies on the energy transition and on innovative, fast-growing companies, or scale-ups. Invest-NL supports innovative entrepreneurs through financing and advice according to one simple principle: impact is our goal, return is our means. As the Dutch partner for European investment institutions, Invest-NL is dedicated to cooperation and always works together with other investors. Invest-NL is headquartered in Amsterdam and employs a staff of 50 people. More information.
About Arches Capital
Arches Capital is a fast-growing group of business angels that invests in startup and scale-up companies with a large growth potential. Through its investments Arches Capital bridges the gap between formal investors (VCs) and informal investors (business angels), by joining the best of both worlds: “we source, select and invest like a VC; we engage, care and inspire as the angel we are”. Arches Capital differentiates itself by bringing superior deal flow, professional knowledge and a lower risk profile to the participating angel investors, while supporting its successful portfolio companies from start to exit through follow-on investments. For this Arches Capital is building the leading platform of actively engaged business angels that know how to operate and manage their investments in a professional and standardized manner. More information.
December 1, 2020 — EclecticIQ, a global threat intelligence, hunting and response technology provider, has raised €20 million ($24 million) in Series C financing, led by Ace Management, Europe’s leading cyber growth investor.
Other contributors to the funding round include Capricorn Digital Growth Fund and Quest for Growth, Invest-NL, Arches Capital and existing investors INKEF Capital, KEEN Venture Partners and KPN ventures. This brings the company’s total funding raised to €47 million over a four-year period, making it among the best funded global cybersecurity scale-ups based in Europe.
Funding will go towards deepening the company’s commitment to government, large enterprises and service providers, expanding its portfolio and increasing the company’s global footprint. With this investment EclecticIQ will accelerate its strategy to transform from a leading threat intelligence platform vendor into an innovative cybersecurity leader across the globe.
As cyber threats continue to evolve rapidly, intelligence-led cybersecurity has become the norm. EclecticIQ’s growing customer base relies on its threat intelligence platform as the single source of truth for cyber threats and incidents. The financing will drive further innovation of the platform with new use cases, enabling governments, large enterprises and service providers to effectively manage threat intelligence, create situational awareness and adopt an intelligence-led cybersecurity approach.
Having mastered threat intelligence technology, the company sees adjacent opportunities in operationalizing threat intelligence, as this is a problem that has not been solved in the market yet. With the recent acquisition of PolyLogyx’s end-point technology, the company is well positioned to develop new solutions that re-imagine how organizations detect, hunt and respond to sophisticated threats.
To accelerate growth, EclecticIQ will use the funding to expand its commercial teams in Europe and the United States, and establish a presence in the Middle East, Africa and Asia Pacific. Leveraging its experience with governments, and some of the most targeted enterprises globally, the company will expand its focus to new segments and strengthen its global partner ecosystem.
François Lavaste, Partner at Ace Management who will join EclecticIQ’s board of directors, said: ”We are convinced that Ace Management’s new investment will help the company to improve and accelerate its solutions that enable the world’s biggest governments and commercial enterprises to identify and protect against the most intense cyber threats.”
Joep Gommers, EclecticIQ’s co-founder and chief executive officer said, “It is exciting to bring in a high-caliber cyber investor like Ace Management, which shares our vision of threat intelligence at the core of cybersecurity, and sees the opportunity to transform the industry by solving massive challenges faced in threat detection, hunting and response. This financial investment will enable EclecticIQ to drive the industry forward and support our clients more effectively facing an ever-evolving threat landscape.”
EclecticIQ has seen impressive growth over the years:
Growth: In 2019, the company grew its revenue by 84 percent by successfully expanding the company’s market segments from government to larger financial organizations, telecoms and big tech companies.
Product: EclecticIQ is continuing to push the envelope, with a new intelligence ingestion engine introduced to the EclecticIQ Platform, improving robustness and scalability of the company’s core threat intelligence technology.
Industry alliances: The company is a sponsor member of OASIS, EclecticIQ joined the Open Cybersecurity Alliance (OCA), along with some of the biggest names in cybersecurity.
Leadership: The company further strengthened its leadership team, adding Wytse Bouma (ex Rockstart) as CFO, and Ciaran Bradley (ex Adaptive Mobile, Kemp) as CTO.
Board: Three new members have been appointed to its board: Ben Verwaayen (KEEN Venture Partners, previously CEO of BT Group PLC Alcatel-Lucent, President of KPN Telecom and Vice-Chairman of Lucent Technologies), François Lavaste (Partner, Ace Management) and Katrin Geyskens (Partner, Capricorn Partners). The Board is chaired by Sam van der Feltz (ex Unilever, TNS & EMI).
Bryan, Garnier & Co acted sole financial advisor and sole placement agent for EclecticIQ.
To learn more about the funding and what the company is doing with the investment read the blog post by Joep Gommers here.
About EclecticIQ
EclecticIQ is a global threat intelligence, hunting and response technology provider. Its clients are some of the most targeted organizations, globally. To build tomorrow’s defenses today, these organizations have to understand the threats against them – and align their efforts and investments to mitigate their risks. EclecticIQ helps governments, large enterprises and service providers effectively manage threat intelligence, create situational awareness and adopt an intelligence-led cybersecurity approach. The company extended its focus towards hunting and response with the acquisition of Polylogyx’s end-point technology in 2020. Founded in 2014, EclecticIQ operates globally with offices across Europe, North America, and via certified value-add partners. More information
